Coach is undergoing a brand revamp. On the heels of new creative director Stuart Vevers‘ big bash at the Highline in New York City this week, the brand has announced that it will be closing 70 of its North American stores by the first half of 2015. Coach has projected revenue declines and a decrease in sales for 2015, but the closure of the stores is also part of brand restructuring. The stores left standing will see renovations in November that will be more in line with Stuart Vevers’ new vision for the brand. The brand is also looking to open a new Fifth Avenue flagship in New York City.
Meanwhile, Coach’s outlet stores are getting their own makeover. Two existing outlet stores will close, while 10 new ones will open selling both womenswear and menswear. Plus, 13 men’s stores will be folded into existing womenswear stores. Vevers also plans to introduce outlet merchandise that will be more in keeping with the aesthetic of its main ready-to-wear and accessory lines. The signature logo line of the brand that has developed somewhat of a downward market image over the years will also be phased out, and replaced with more leather goods. In keeping with other brands that have been flocking to China to open stores, Coach will be expanding in the country where they are currently ranked number three in market share rank as of 2013, according to WWD. Coach currently has 147 retail locations in China. Finally, the brand also plans to renovate and add flagships in cities like London, Paris, Milan, Dubai, Singapore, Beijing, and Melbourne over the next three years.